WASHINGTON -
"We think the board hasn't represented the fiduciary interest of the members," said Amber Brooks, one of the members behind the petition drive.
The petition was given to the manager of the $330-million credit union's Ronald Reagan Federal Building branch. Credit union bylaws say the credit union is required to call a special meeting of members upon receipt of a petition signed by at least 750 members.
Members Petition To Recall Board
The petition asks the credit union to call a special meeting where members would vote on the recall of seven of the nine members remaining who voted for the ill-fated conversion (two directors have resigned since then). The vote to convert to a mutual savings bank won by a narrow margin, but credit union officials withdrew their petition to convert charters after improprieties in the 90-day ballot were discovered.
The voting process is currently being investigated by NCUA. CU officials did not return phone calls seeking comment on the petition effort.
Meanwhile, lawyers for Lafayette have issued a series of broad ranging subpoenas in connection with a multi-million dollar suit against the credit union's former CEO, Bill Brooks, seeking comprehensive information from a variety of groups who helped defeat their bid to convert.
